Northeast

Hospital-for-Special-Surgery-Sports-Medicine-Institute-West-Side

Skanska Completes Healthcare Renovation Project in Midtown Manhattan

by Taylor Williams July 7, 2025

NEW YORK CITY — International development and construction firm Skanska has completed the renovation of the Hospital for Special Surgery Sports Medicine Institute West Side in Midtown Manhattan. The project transformed the fourth floor of the facility into an outpatient clinic and introduced 15 new exam rooms, offices and a storage area. Skanska, working with Batska Consulting Group, also upgraded the building’s mechanical, electrical and plumbing systems to accommodate the new operations. Additional improvements included the integration of a new X-ray room and an ultrasound-guided injection exam room. Construction began in August 2024.

July 7, 2025

Storage-Solutions-USA-and-Bay-Wash-Car-Wash

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 288-Unit Self-Storage, Car Wash Facility in Middletown, New York

by Taylor Williams July 7, 2025

MIDDLETOWN, N.Y. — Marcus & Millichap has brokered the sale of Storage Solutions USA and Bay Wash Car Wash in Middletown, about 75 miles north of New York City. The site spans 4.2 acres, and the property consists of 30,475 net rentable square feet of storage space across 288 units and a self-service car wash with five self-service bays and one in-bay automatic wash. Andreas Makris, Kevin Bledsoe, Alan Cafiero and Matt Junkin of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Manas Equities.

July 7, 2025

Acquisitions Industrial Massachusetts Northeast

Marcus Partners Acquires 100,000 SF Industrial Property in Norwell, Massachusetts

by Taylor Williams July 7, 2025

NORWELL, MASS. — Regional investment firm Marcus Partners has purchased an approximately 100,000-square-foot industrial property in Norwell, about 25 miles southeast of Boston. Built in 1983, the property at 77 Accord Park Drive consists of four light industrial buildings that were 78 percent leased to 13 tenants at the time of sale. Marcus Partners purchased the property in partnership with Boston-based Rhino Capital, with Middlesex Savings Bank financing the acquisition. The seller was the original developer.

July 7, 2025

Acquisitions Development Hospitality Massachusetts Northeast

Mount Vernon Co. Buys Historic Hospitality Property in Plymouth, Massachusetts, Plans Repositioning

by Taylor Williams July 7, 2025

PLYMOUTH, MASS. — Boston-based investment firm The Mount Vernon Co. has purchased an 80-room historic hospitality property in Plymouth, located south of the state capital, with plans to implement a repositioning. Opened in 1969 and renovated in 2021, The John Carver Inn & Spa features a full-service spa, indoor pool, meeting and event space, fitness center, game room and onsite dining options. The repositioning will cover the property’s interiors, amenities, and the food-and-beverage program. Alan Suzuki and Matthew Enright of JLL represented the undisclosed seller in the transaction.

July 7, 2025

Leasing Activity New York Northeast Office

Macerich Signs 12,000 SF Office Lease at 825 Third Avenue in Midtown Manhattan

by Taylor Williams July 7, 2025

NEW YORK CITY — Macerich (NYSE: MAC) has signed a 12,000-square-foot office lease at 825 Third Avenue in Midtown Manhattan. The Southern California-based retail owner-operator is relocating its New York City office from Fifth Avenue to the 33rd floor of the 40-story building, which recently underwent a $150 million capital improvement program. Gordon Ogden and James Hart of Bradford Allen represented Macerich in the lease negotiations. Tom Bow, Ashlea Aaron, Bailey Caliban and Sayo Kamara represented the landlord, The Durst Organization, on an internal basis.

July 7, 2025

Acquisitions Company News Missouri New York Top Stories

BlackRock to Acquire Net-Lease Industrial Investor ElmTree Funds

by Hayden Spiess July 7, 2025

NEW YORK CITY AND ST. LOUIS — New York City-based investment manager BlackRock Inc. (NYSE: BLK) has announced plans to acquire net-lease real estate investment firm ElmTree Funds. BlackRock has entered into a definitive agreement with ElmTree, which has $7.3 billion in total assets under management as of March 31. The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and customary closing conditions. Established in 2011 and based in St. Louis, ElmTree owns and operates real estate properties, with a focus on single-tenant, build-to-suit industrial assets. ElmTree’s portfolio includes investments in 122 properties across 31 states. Additionally, ElmTree’s portfolio includes six office locations. BlackRock’s upfront consideration will be paid primarily in stock, with the potential for additional consideration subject to ElmTree Funds’ performance over the next five years. Additional financial details were not disclosed. Upon closing of the deal, ElmTree will be integrated into Private Financing Solutions (PFS), a new platform created through BlackRock’s combination with HPS Investment Partners. (BlackRock completed its acquisition of investment firm HPS earlier this month.) “The net lease market is estimated at $1 trillion, and our continued belief in the industrial build-to-suit model is rooted in the mission-critical …

July 7, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Arranges Sale of 295-Unit Strata Apartments in Malden, Massachusetts

by Taylor Williams July 3, 2025

MALDEN, MASS. — CBRE has arranged the sale of Strata, a 295-unit apartment community located north of Boston in Malden. Built in 2000, Strata is a single-story building that houses studio, one-, two- and three-bedroom units with an average size of 892 square feet. Amenities include a pool, resident lounge, private work pods, a fitness center and expansive socialization areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller, an affiliate of Oregon-based investment firm The Green Cities Co., in the transaction. CBRE also procured the buyer, an undisclosed institutional investment firm.

July 3, 2025

Acquisitions New Jersey Northeast Office

Newmark Brokers Sale of 222,888 SF Office Property in Moorestown, New Jersey

by Taylor Williams July 3, 2025

MOORESTOWN, N.J. — Newmark has brokered the sale of a 222,888-square-foot office property in Moorestown, located outside of Philadelphia in Southern New Jersey.The sales price was $17.6 million. Moorestown Corporate Center consists of three buildings on a 16.8-acre site. Amenities include a café with an outdoor seating area and a new fitness center. David Dolan, Angelo Brutico and Anne Klein of Newmark represented the seller, local investment firm Keystone, in the transaction. Stephen Comly and Eric DeStefano, also with Newmark, arranged acquisition financing on behalf of the buyer, regional investment firm Melrose Solomon Enterprises.

July 3, 2025

Acquisitions Industrial Massachusetts Northeast

Marcus Partners Acquires Two Industrial Buildings Totaling 68,480 SF in Holliston, Massachusetts

by Taylor Williams July 3, 2025

HOLLISTON, MASS. — Regional investment firm Marcus Partners has purchased two industrial buildings totaling 68,480 square feet in Holliston, about 30 miles southwest of Boston. Completed in 2013, the building at 275 Hopping Brook Road totals 20,480 square feet and was fully leased to four tenants at the time of sale. Built in 2005, the facility at 330 Hopping Brook Road totals 48,000 square feet and was also fully leased at the time of sale. Cambridge Savings Bank provided acquisition financing for the deal, the seller in which was the original developer.

July 3, 2025

Acquisitions Northeast Office Pennsylvania

JLL Negotiates 22,230 SF Office Lease at 1735 Market Street in Downtown Philadelphia

by Taylor Williams July 3, 2025

PHILADELPHIA — JLL has negotiated a 12-year, 22,230-square-foot office lease at 1735 Market Street, a 1.3 million-square-foot building in downtown Philadelphia. The tenant, law firm Hangley Aronchick Segal Pudlin & Schiller, will relocate from One Logan Square to the 26th floor of the a 54-story building. Mitch Marcus, Alex Breitmeyer and Jake Marcus of JLL represented the tenant in the lease negotiations. Tom Weitzel, also with JLL, along with internal agents Keith Cody and Gordon Hough, represented the landlord, New York City-based Silverstein Properties, which owns the property in partnership with Arden Group.

July 3, 2025

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